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ESAF Microfinance Loan Products

1.      Income Generation Loan
Sl. No. Product Attributes Description/Details
1 Purpose To create assets or provide working capital for any lawful income generation activity
2 Loan Amount 1st Cycle – Rs. 20000/-
    2nd Cycle – Rs. 30000/-
    3rd Cycle – Rs. 40000/-
    4th Cycle – Rs. 50000/-
    5th Cycle & above – Rs. 60000/-
3 Rate of Interest 24.92% on diminishing basis.
4 Processing fee 1% of the loan amount + service tax
5 Loan Period up to Rs.15000/- 1 year
    above Rs.15000/- 2years
6 Repayment Frequency Weekly /Fortnightly/Monthly
7 Moratorium Period 1 week/2 weeks/1 month - according to repayment frequency
2.      General Loan
Sl. No. Product Attributes Description/Details
1 Purpose Consumption purpose
2 Loan Amount 1st Cycle - Rs. 15000/- 
    2nd Cycle & above – Rs. 20000/-
3 Rate of Interest 24.92% on diminishing basis.
4 Processing fee 1% of the loan amount + service tax
5 Loan Period up to Rs.15000/- 1 year
    above Rs.15000/- 2years
6 Repayment Frequency Weekly /Fortnightly/Monthly
7 Moratorium Period 1 week/2 weeks/1 month - according to repayment frequency
3.      Nirmal Loan
Sl. No. Product Attributes Description/Details
1 Purpose For construction of latrine cum toilets
2 Loan Amount From Rs. 4000/- to Rs.12000/-
3 Rate of Interest 24.92% on diminishing basis.
4 Processing fee 1% of the loan amount + service tax
5 Loan Period Up to Rs. 6000/- 1 year
    From Rs. 7000/- to Rs.12000/- 18 months
6 Repayment Frequency Weekly /Fortnightly/Monthly
7 Moratorium Period 1 week/2 weeks/1 month - according to repayment frequency
4.      Jeevandhara Loan
Sl. No. Product Attributes Description/Details
1 Purpose For water connection
2 Loan Amount From Rs. 2000/- to Rs.12000/-
3 Rate of Interest 24.92% on diminishing basis.
4 Processing fee 1% of the loan amount + service tax
5 Loan Period Up to Rs. 6000/- 1 year
    From Rs. 7000/- to Rs.12000/- 18 months
6 Repayment Frequency Weekly /Fortnightly/Monthly
7 Moratorium Period 1 week/2 weeks/1 month - according to repayment frequency
5.      Agriculture Loan
Sl. No. Product Attributes Description/Details
1 Purpose This loan is designed to assist the farmers to cultivate crops.
2 Loan Amount 1st Cycle – Rs. 8000/-
    2nd Cycle –Rs. 10000/-
    3rd Cycle –Rs. 12000/-
    4th Cycle and above – Rs. 15000/-
3 Rate of Interest 24.92% on diminishing basis.
4 Processing fee 1% of the loan amount + service tax
5 Loan Period 9 Months
6 Repayment Mode Bullet repayment at the end of the loan period
6.      Vidhyajyothi Loan
Sl. No. Product Attributes Description/Details
1 Purpose For the educational purpose of sangam members’ children for meeting tuition fee and non tuition fee.
2 Loan Amount Up to 10thStd          - Rs. 8000/-
    For Plus 1 & 2         - Rs. 15000/-
    Above +2/College   - Rs. 16000/- to Rs. 50000/-
3 Rate of Interest 24.92% on diminishing basis.
4 Processing fee 1% of the loan amount + service tax
5 Loan Period Up to 15000 – 1 year
   
    Above 15000 – 2 years
6 Repayment Frequency Weekly /Fortnightly/Monthly
7 Moratorium Period 1 week/2 weeks/1 month - according to repayment frequency
7.      Suryajyothi Loan 
Sl. No. Product Attributes Description/Details
1 Purpose For promoting products like solar lamps
2 Loan Amount From Rs.1000/- to Rs. 10000/-
3 Rate of Interest 24.92% on diminishing basis.
4 Processing fee 1% of the loan amount + service tax
5 Loan Period For loans up to Rs. 3000 – 26 weeks/6 months
   
    For loans above Rs. 3000 – 52 weeks/ 12 months
6 Repayment Frequency Weekly /Fortnightly/Monthly
7 Moratorium Period 1 week/2 weeks/1 month - according to repayment frequency
8.      Grihajyothi Loan
Sl. No. Product Attributes Description/Details
1 Purpose For promoting energy efficient cooking stoves
2 Loan Amount From Rs.1000/- to Rs. 10000/-
3 Rate of Interest 24.92% on diminishing basis.
4 Processing fee 1% of the loan amount + service tax
5 Loan Period For loans up to Rs. 3000 – 26 weeks/6 months
   
    For loans above Rs. 3000 – 52 weeks/ 12 months
6 Repayment Frequency Weekly /Fortnightly/Monthly
7 Moratorium Period 1 week/2 weeks/1 month - according to repayment frequency
9.      Mobile Loan
Sl. No. Product Attributes Description/Details
1 Purpose The mobile loan product would enable ESAF clients to purchase mobile phones.
2 Loan Amount From Rs.2000/- to Rs. 15000/-
3 Rate of Interest 24.92% on diminishing basis.
4 Processing fee 1% of the loan amount + service tax
5 Loan Period 43 weeks/10 months
6 Repayment Frequency Weekly /Fortnightly/Monthly
7 Moratorium Period 1 week/2 weeks/1 month - according to repayment frequency
10.   Micro Enterprise Loan – Dairy (MELD)
Sl. No. Product Attributes Description/Details
1 Purpose For meeting working capital needs for Milk vendors and farmers
2 Loan Amount Rs. 25000/-, rx Rs. 50000/-, Rs. 75000/-, Rs. 100000/- 
    (fixed loan amounts)
3 Rate of Interest 26% on diminishing basis.
4 Processing fee 1% of the loan amount + service tax
5 Loan Period For Rs. 25000/- & Rs. 50000/-  35 Weeks
   
    For Rs. 75000/- & Rs. 100000/- 50 weeks
6 Repayment Frequency Weekly
7 Moratorium Period 1 week
11.   Ultra Poor Loan
Sl. No. Product Attributes Description/Details
1 Purpose Livelihood Development 
2 Loan Amount 1st Cycle - Rs. 2,000/- 
   
    2nd Cycle - Rs. 4,000/- 
   
    3rd Cycle - Rs. 7,000/- 
3 Rate of Interest 24.92% on diminishing basis.
4 Processing fee 1% of the loan amount + service tax
5 Loan Period For  2,000/- 3 months 
   
    For  4,000/- 6 months 
   
    For  7,000/- 9 months
6 Repayment Frequency Weekly /Fortnightly/Monthly
7 Moratorium Period 1 week/2 weeks/1 month - according to repayment frequency
12.   Income Generation Loan (Dairy)
Sl. No. Product Attributes Description/Details
1 Purpose For promoting farmers involved in dairy business 
2 Loan Amount From Rs. 20,000 to Rs. 50,000
3 Rate of Interest 24.92% on diminishing basis.
4 Processing fee 1% of the loan amount + service tax
5 Loan Period 2 years
6 Repayment Frequency Weekly /Fortnightly/Monthly
7 Moratorium Period 1 week/2 weeks/1 month - according to repayment frequency
13.   Income Generation Loan (Special)
Sl. No. Product Attributes Description/Details
1 Purpose To create assets or provide working capital for any lawful income generation activity
2 Loan Amount From Rs. 10000/- to Rs. 60000/- 
3 Rate of Interest 24.92% on diminishing basis
4 Processing fee 1% of the loan amount + service tax
5 Loan Period up to Rs.15000/- 1 year
    above Rs.15000/- 2years
6 Repayment Frequency Weekly /Fortnightly/Monthly
7 Moratorium Period 1 week/2 weeks/1 month - according to repayment frequency
14.   Home Improvement Loan
Sl. No. Product Attributes Description/Details
1 Purpose For repairs and renovation of existing house 
2 Loan Amount From Rs 15,000 to Rs 50,000 
3 Rate of Interest 22% on diminishing basis.
4 Processing fee 2% of the loan amount + Service tax
5 Loan Period For loan amount up to Rs. 30,000 – 24 months
    For loan amount above Rs. 30,000 – 30 months
6 Repayment Mode Monthly
7 Moratorium Period 1 month
15.   Housing Loan
Sl. No. Product Attributes Description/Details
1 Purpose For construction of new house and extension/renovation of existing house 
2 Loan Amount From Rs 50,000 to Rs 2,00,000 
3 Rate of Interest 23% on diminishing basis.
4 Processing fee 1% of the loan amount + Service tax
5 Loan Period 36-60 months
6 Repayment Mode Monthly
7 Moratorium Period 3 months
16.   Home Loan - Gruha Sudhar & Gruha Nirman
Sl. No. Product Attributes Description/Details
1 Purpose of Loan Product-I: Gruha Sudhar - Home Improvements 
    o   Renovation or repair of an existing house.
    Product-II: Gruha Nirman - New house construction 
    o   Extension of existing house for residential purpose
    o   Construction of a house for residential purpose
2 Loan Amount Gruha Sudhar: Rs. 50,000/-  - Rs. 3,00,000/-
    Gruha Nirman: Rs. 1,50,000/- - Rs. 5,00,000/-
3 Rate of Interest 22% per annum on reducing balance
4 Processing fees  1% + applicable service tax
5 Loan Period Gruha Sudhar: 
    o   Up to Rs. 1.5 lakh - 48 months
    o   From Rs. 1.5 lakh to 3 lakh - 60 months.
    Gruha Nirman: 60 months
6 Repayment Frequency Monthly
7 Moratorium Up to 6 months depending on type of property/ construction. 

Last updated on 24 June 2015

 
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